Tax Matters - The Top Tax Defenders Blog

It is perfectly legal to keep money in an overseas bank account. In fact, many Americans do simply because they work and live abroad.

While it is legal to open and maintain international bank accounts, it is illegal to avoid reporting this money to the IRS. You can obey current U.S. tax laws and still keep your overseas accounts by keeping in mind these tips about reporting this money to the IRS.

The IRS collects more than $2 trillion in tax revenue each year. Despite this massive sum of money, the IRS will at some point notice if you do not report your own income to the government.

Nobody wants to think about taxes during the holiday season. Still, one of the best New Year's resolutions you can make is to take some critical tax moves now that will pay off come April 2020.  

When you owe multiple creditors, you may find it difficult to keep up on payments and get your accounts paid off in full. Despite your best efforts to pay, your creditors may choose to garnish your wages.

Many taxpayers would never entertain the idea of going up against the IRS alone. They know that in most cases they would never win such an uphill battle to resolve their tax debt.

Having an IRS tax lien on your credit record can be devastating. Because it can stay on your record up to seven years after you pay off or settle the amount, you may have a difficult time getting financed for loans, credit cards, and other financing.

Millions of people look forward to tax refund season each year. This once a year financial windfall helps people get caught up on bills and buy consumer goods that they have been wanting for months.

When your money is delayed, however, you want to know what went wrong with its processing. Rather than wait for the IRS to contact you, you can take these proactive steps to track down your refund.

If you find yourself at odds with the IRS and need to understand just what is contained inside today's tax codes, you may find yourself overwhelmed by this vast amount of information. Rather than risk being penalized and punished, you should use these strategies for researching and following tax laws that most people do not understand.

When you are selected for an IRS audit, you may be overcome with worry and stress. In reality, however, going through an audit differs little than any other legal process. 

You have rights and responsibilities that can make the entire audit go by quickly and end with the best solution for both you and the IRS. You can prepare for your meeting by learning how this agency gathers its information and what your options are both during and after the audit.